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Business News Archive - May 23, 2009

The U.S. Federal Deposit Insurance Corp.

Bankrupt Chicago clothing manufacturer Hartmarx says it has accepted a joint takeover bid from a London private equity firm and an Indian suitmaker. The company said in court filings Friday that it has approved a $119 million stalking horse bid for all its assets from Emerisque Brands U.K.

Two Illinois banks have been shuttered by regulators, marking the 35th and 36th bank closings in the United States so far this year, officials said. Strategic Capital Bank of Champaign and Citizens National Bank of Macomb were closed Friday, Marketwatch reported. The Federal Deposit Insurance Corp.

New survey shows more than 60 percent of Texas Gulf Coast residents unprepared for the next hurricane MCALLEN, Texas, May 23 /PRNewswire/ -- Despite the impacts of Ike, Dolly, Edouard and Gustav a few short months ago, a new survey conducted on behalf of CPL Retail Energy suggests that Texans could do more to get ready for Hurricane Season. More than 60 percent of Texas Gulf Coast residents do not believe themselves to be well prepared for the next hurricane, and of those who do consider themselves to be moderately or well prepared, few have taken the necessary pre- and post-hurricane steps to be ready for Hurricane Season.

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Apple Inc. has withdrawn two software applications after Cartier International N.V. filed suit against the U.S.

A Wisconsin official says the state is attempting to find ways to help those auto dealerships who have lost their Chrysler and General Motors franchises. Steve Krieser, who supervises the field investigation unit of the state Division of Motor Vehicles, said finding ways to give the dropped dealerships additional time to sell their remaining stock is a difficult proposition, the Milwaukee Journal Sentinel said Saturday. It's an unprecedented situation.

The agency operating Pittsburgh's airport wants to cut costs so it can reduce the high fees it charges airlines per passenger. Carriers using the Pittsburgh International Airport now pay $15.80 for every passenger who boards a plane, the Pittsburgh Post-Gazette reported Saturday.

Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'